Sofinnova Investments Inc. purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,512,994 shares of the biopharmaceutical company’s stock, valued at approximately $81,611,000. Bristol Myers Squibb accounts for about 3.3% of Sofinnova Investments Inc.’s holdings, making the stock its 5th biggest holding.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC raised its holdings in Bristol Myers Squibb by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 65,046 shares of the biopharmaceutical company’s stock worth $3,509,000 after purchasing an additional 172 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Bristol Myers Squibb by 0.8% in the fourth quarter. KCM Investment Advisors LLC now owns 20,871 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 174 shares during the last quarter. Investment Research Partners LLC increased its stake in Bristol Myers Squibb by 1.4% in the fourth quarter. Investment Research Partners LLC now owns 13,134 shares of the biopharmaceutical company’s stock valued at $708,000 after purchasing an additional 179 shares during the last quarter. ESG Planning DBA Harper Investing increased its stake in Bristol Myers Squibb by 1.3% in the fourth quarter. ESG Planning DBA Harper Investing now owns 13,811 shares of the biopharmaceutical company’s stock valued at $745,000 after purchasing an additional 180 shares during the last quarter. Finally, REAP Financial Group LLC increased its stake in Bristol Myers Squibb by 26.1% in the fourth quarter. REAP Financial Group LLC now owns 879 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 182 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.
Bristol Myers Squibb Stock Down 1.4%
Shares of Bristol Myers Squibb stock opened at $56.30 on Tuesday. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $62.89. The stock has a market capitalization of $114.97 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.16 and a beta of 0.24. The business’s 50 day simple moving average is $57.67 and its 200-day simple moving average is $56.99. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10.
Analysts Set New Price Targets
A number of research firms have issued reports on BMY. Piper Sandler reissued an “overweight” rating and set a $75.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, February 23rd. Barclays began coverage on Bristol Myers Squibb in a research report on Thursday, February 19th. They issued an “overweight” rating and a $75.00 target price for the company. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. HSBC boosted their price target on Bristol Myers Squibb from $53.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.31.
Insider Transactions at Bristol Myers Squibb
In related news, EVP David V. Elkins sold 30,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the completion of the transaction, the executive vice president directly owned 159,248 shares of the company’s stock, valued at $9,820,824.16. This represents a 15.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.05% of the stock is owned by company insiders.
Bristol Myers Squibb Company Profile
Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.
BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.
Featured Articles
- Five stocks we like better than Bristol Myers Squibb
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY – Free Report).
Receive News & Ratings for Bristol Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.
